Your Industry 

New trade body to probe advisers for game plan

New trade body to probe advisers for game plan

The Personal Investment Management & Financial Advice Association has said it will be carrying out a strategic review into its priorities over the next few months.

Over the summer and autumn it will be meeting with advice firms of all sizes to find out what issues they want it to address.

This means the new association, which replaced the Association of Professional Financial Advisers last week, could drop some of its predecessor’s priorities.

Apfa merged with the Wealth Management Association last week after both trade bodys’ memberships voted for the move.

It did not comment when asked whether the long-stop, which Apfa spent so many years lobbying for unsuccessfully, would remain one of its priorities.

A spokesman for Pimfa said: “The new association will be carrying out a strategic review across the board of its approach to key issues and we will work to ensure that our merged efforts continue to promote the value of our industry to individuals, families and stakeholders and also emphasise the ongoing need for proportionality and appropriateness of regulation in the sector. 

“This is especially so in relation to smaller firms.”

As part of the strategic review, Pimfa said it would be holding a series of regional events over 14 locations around the UK to engage with its membership.

But it has said there is no “formal timescale” for finalising its priorites.

Its first priority is organising representatives from across Pimfa’s membership to sit on its committees.

This will include creating new committees as well as merging existing ones from Apfa and the WMA.

A spokesman for Pimfa said it would be feeding back to members on its future plans at its flagship annual summit on Wednesday 8 November.